News: 'Tata-Corus deal sign of India's economic strength'

(PTI 31/01/2007) New Delhi - Commerce and Industry Minister Kamal Nath today said the Tata's acquisition of Corus was a sign of India's economic strength.

"The Tata's win reflects India's economic and fundamental strength," the minister said.

Nath had earlier said that the corporate deals should always be determined by business forces taking into account the best corporate practices. He stated that the governments should not have much role in these business deals.

Nath handles Commerce and Industry Departments dealing with the policy issues governing both international trade and investments.

He had been vocally supportive of cross border merger and acquisitions, including the Arcelor-Mittal and Vodafone. He enjoys a good rapport with CEOs of a number of Fortune 500 companies.